AREA 7. Section 58-15-9 NMSA 1978 (being Laws 1955, Chapter 128, Section 9, as amended) is amended to see:
"58-15-9. STUDY OF LICENSEE'S BOOKS AND RECORDS--WITNESSES.--
A. At least one time every year, the manager or perhaps the director's authorized representative shall make a study of the spot of company of each and every licensee as well as the loans, deals, publications, documents and documents associated with licensee insofar because they relate to your company certified beneath the brand new Mexico Small Loan Act of 1955 whilst the director may deem necessary. The licensee shall pay to your manager for such examination that is annual cost of 200 dollars ($200).
B. The director shall mail to the licensee a copy of the report of the examination, together with any comments, exceptions, objections or criticisms of the director concerning the conduct of the licensee and the operation of the licensed workplace inside a reasonable time following the conclusion of a study of a licensed workplace.
C. The director or the director's authorized representative may at any time investigate the business and examine the books, accounts, papers and records used therein, including income tax returns or other reports filed in the office of the director of the revenue processing division of the taxation and revenue department of for the purpose of discovering violations of the New Mexico Small Loan Act of 1955 or of securing information lawfully required under that act
(2) every other individual involved in the company described in Subsection A of section NMSA that is 58-15-3 1978 taking part in such company as major, representative, broker or elsewhere; and
(3) anybody who the director has reasonable cause to think is breaking any supply for the brand brand New Mexico Small Loan Act of 1955, perhaps the person claims become in the authority or beyond the range of the work. Continue reading Installment loans guidelines. 50th legislature — STATE OF NEW MEXICO — 2nd session